Poverty, Unemployment and Economic Prosperity in Nigeria
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This work investigated comprehensively on poverty, unemployment and the paths to economic prosperity in Nigeria from 1990-2022. Ex-post facto research design was adopted in the course of achieving the stated objectives of this work. The objective was to investigate the effect of poverty and unemployment on the pathway of economic prosperity, and also to check if there is long-run relationship existing between poverty, unemployment and economic prosperity in Nigeria. In pursuant of the stated objectives of this work, ARDL Bounds Test technique was used. The study discovered negative and significant effect of poverty and unemployment on the pathway of economic prosperity in Nigeria. Long run relationship was found between poverty, unemployment and economic prosperity in Nigeria as validated by ARDL Bounds test. The Error Correction Model indicated that, 82.2%of the short-run distortions in economic prosperity are corrected annually to meet the long-run equilibrium. Recommendation was profered that, since poverty and unemployment affect economic prosperity negatively both in the short-run and long-run, Nigerian government was advised to put in place policies and strategies towards ensuring that the level of poverty and unemployment in Nigeria is reduced because economic prosperity cannot take place in the midst of poverty and unemployment. The government was also advised invest more on in the area of technology and innovation development because it holds the key to economic prosperity of the country.
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